Micron Picked To Sponsor Failed Elpida

Elpida Memory Inc., a bankrupt DRAM maker, has informally announced its choice of major US chipmaker Micron Technology Inc. as the sponsor of its rehabilitation efforts, according to the Nikkei. Micron is expected to pay more than 200 billion yen to acquire Elpida. In the second round of bidding held last Friday, a consortium of China's Hony Capital and US-based TPG Capital also participated and failed. The Korean chip maker SK Hynix Inc. announced before the auction that it won't be proceeding with a bid for Elpida. SK Hynix once said that it might work with possible partners such as Toshiba to bid. Consequently there are no major Japanese electronics manufacturers who are engaged in the global DRAM market that they once dominated.